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We all need pivots to win..yes or not? 13 replies

The System (Irony included) 1,175 replies

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The System II (Yes with irony)

  • #3,241
  • Edited 5:50am Aug 3, 2009 4:21am | Edited 5:50am
I have great start using this "system". I got 31 pips on gbp/usd and 19 pips on eur/usd.

Eur/Usd is now reloaded...let's see...
  • #3,242
  • Aug 3, 2009 4:24am Aug 3, 2009 4:24am
+21pip in 5 minutes... Nice!!!
Every moment in the market is unique.
  • #3,243
  • Aug 3, 2009 5:10am Aug 3, 2009 5:10am
... OK, after a bit of consideration different options, I'm ready for next shot ...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 25 KB
  • #3,244
  • Edited 5:51am Aug 3, 2009 5:12am | Edited 5:51am
I manage to get another 23 pips on Eur/Usd, and 17 pips on gbp/usd (both long)

Now, I have a sell stop on GBP/USD on 1.6818, waiting to go short. Let's dance with the market, as we where taught by Feb.

Btw, Feb, glad to see you around.

Regards, Zoreli
  • #3,245
  • Aug 3, 2009 5:31am Aug 3, 2009 5:31am
Quoting DareXau
... OK, after a bit of consideration different options, I'm ready for next shot ...
Good morning to everyone....
Dare,
Wouldn't you consider to enter short on the white line in the picture?
If not, Why?
Thank you,
Attached Image (click to enlarge)
Click to Enlarge Name: eur%20usd.gif Size: 26 KB
  • #3,246
  • Aug 3, 2009 6:06am Aug 3, 2009 6:06am
My Gbp/Usd trade end with a loss of 26 pips. I went away from my screen for 5 min..enough for my sl to be hit.

Anyway, if price go again on 1.6819, I will go short again. Let's see.

I edit my previous posts, because my pips where totally wrong, I get confused from my excitement I guess...
  • #3,247
  • Aug 3, 2009 6:17am Aug 3, 2009 6:17am
Quoting jplo
Good morning to everyone....
Dare,
Wouldn't you consider to enter short on the white line in the picture?
If not, Why?
Thank you,
No, not now or not yet ...
'cos I reckon, if the price drops to that level, it only may do it for one reason ... to fade a next move
I don't wanna be involved in this fake situation, if I'm wrong and as a outcome miss a trade, so be it, there always will be the next one to go on board.
  • #3,248
  • Aug 3, 2009 6:25am Aug 3, 2009 6:25am
Quoting DareXau
No, not now or not yet ...
'cos I reckon, if the price drops to that level, it only may do it for one reason ... to fade a next move
I don't wanna be involved in this fake situation, if I'm wrong and as a outcome miss a trade, so be it, there always will be the next one to go on board.
Ok, understood...
Thanks for explaining
  • #3,249
  • Aug 3, 2009 7:39am Aug 3, 2009 7:39am
Hey this will be my first trade of the week, does the entry look good?
http://i297.photobucket.com/albums/m...gna/entryz.jpg
  • #3,250
  • Aug 3, 2009 7:51am Aug 3, 2009 7:51am
Quoting Ogna
Hey this will be my first trade of the week, does the entry look good?
Hi Ogna,
Yes, it's clean 1-2-3 approach with a standard stop & target
Good luck
  • #3,251
  • Aug 3, 2009 8:46am Aug 3, 2009 8:46am
... this trade took a bit of time, but it was worth to be patient ...
next one just as a continuation of this up-movement ...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 27 KB
  • #3,252
  • Aug 3, 2009 8:46am Aug 3, 2009 8:46am
I got greedy moved my limit 10 pips and made 0 pips.... it would have hit my 20 target ...
  • #3,253
  • Aug 3, 2009 8:48am Aug 3, 2009 8:48am
for the eur usd right now where would a fractical break be?
  • #3,254
  • Aug 3, 2009 9:08am Aug 3, 2009 9:08am
Quoting Ogna
for the eur usd right now where would a fractical break be?
... at this moment; low 1.43074 and high 1.40541
  • #3,255
  • Aug 3, 2009 10:29am Aug 3, 2009 10:29am
... my last trade closed on 80 pips profit after the price didn't reach the extended target ...
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 25 KB
  • #3,256
  • Aug 3, 2009 10:41am Aug 3, 2009 10:41am
Congratulations DareXau. That is a good runner. Did you trail your stop, or you moved it manually? Which work better for you?

I am still working on my exits...making a good progress, but not even close to this. I guess it take time and practice.

Regards, Zoreli
  • #3,257
  • Aug 3, 2009 11:58am Aug 3, 2009 11:58am
Congrats to all of you who could take a piece of cake in this great runner...

Dare,
how do you managed your stop loss on the previous trade?
Did you trail it below each consecutive fractal or did you only let it stay on the inicial position?
Sorry for bothering you so much with questions, but it is the only and the better way for me to improve in this "system"...
Thanks in advance
Attached Image (click to enlarge)
Click to Enlarge Name: Captura.JPG Size: 59 KB
  • #3,258
  • Aug 3, 2009 4:26pm Aug 3, 2009 4:26pm
Hi All,

Thanks for the updates today - I won`t post charts this week as I won`t be able to trade.

Thanks to FX for the review of the fractal question.

Looks like you all had a good day, keep up the good work.
Survive and Preserve
  • #3,259
  • Aug 3, 2009 9:49pm Aug 3, 2009 9:49pm
Hey, I just realized that I can find entries very well but my real problem is closing a positive trade lol

any tips? im allways scared of missing a runner
  • #3,260
  • Aug 3, 2009 10:04pm Aug 3, 2009 10:04pm
Quoting jplo
Congrats to all of you who could take a piece of cake in this great runner...
Dare,
how do you managed your stop loss on the previous trade?
Did you trail it below each consecutive fractal or did you only let it stay on the inicial position?
Sorry for bothering you so much with questions, but it is the only and the better way for me to improve in this "system"...
Thanks in advance
The swing and pull-back was greater than average that time
so, obviously the initial stop-loss had to be more than a standard 20 pips,
This determined a target level within or little above 1:1 risk/reward ratio.
Personally, I don't like trailing stops (not using them at all) so, stop-loss moved manually,
after next level of Higher-Lows was achieved (fractal low)
Most of the time, I'm moving my S/L this way as described above,
when trade is progressing in favor and target is greater then a standard;
but, when entry is based on typical 20/21 I'm usually moving S/L only once to break-even area.
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd.gif Size: 28 KB
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